United Kingdom GDP Annual Growth Rate 1956-2015 | Data | Chart | Calendar

The Gross Domestic Product (GDP) in the United Kingdom expanded 2.90 percent in the first quarter of 2015 over the same quarter of the previous year. GDP Annual Growth Rate in the United Kingdom averaged 2.46 percent from 1956 until 2015, reaching an all time high of 9.80 percent in the first quarter of 1973 and a record low of -5.80 percent in the first quarter of 2009. GDP Annual Growth Rate in the United Kingdom is reported by the Office for National Statistics.

      Forecast
United Kingdom GDP Annual Growth Rate
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Actual Previous Highest Lowest Dates Unit Frequency
2.90 3.40 9.80 -5.80 1956 - 2015 percent Quarterly
From 1993 to 2007 the United Kingdom has reported an average annual rate of growth of 3.3 percent. Yet, since the recession in 2008 and 2009 the growth has been sluggish and in the last three years averaged meager 0.9 percent. Content for - United Kingdom GDP Annual Growth Rate - was last refreshed on Saturday, July 4, 2015.

Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-04-28 09:30 AM Q1 2.4% 3.0% 2.6% 2.82%
2015-05-28 09:30 AM Q1 2.4% 3.0% 2.5% 2.4%
2015-06-30 09:30 AM Q1 2.9% 3.4% (R) 2.5% 2.4%
2015-07-28 09:30 AM Q2 2.9% 2.72%
2015-08-28 09:30 AM Q2 2.9%
2015-09-30 09:30 AM Q2 2.9%


UK GDP Advances 2.9% YoY in Q1


The British economy expanded 2.9 percent year-on-year in the first three months of 2015, better than a previous estimate of 2.4 percent.

The revision is mainly due to the introduction of the interim solution for the Construction and Cost Price Indices which have impacted on both the construction industry and gross fixed capital formation estimates. Figures for 2014 were also revised upwards. The economy advanced 3.4 percent in the last quarter of 2014 (from an initial 3 percent). 

Year-on-year, household expenditure has been rising each quarter since Quarter 4 2011, and was 3.4 percent higher in Quarter 1 2015 than in the same period a year ago. Both government and non-profit institutions serving households’ consumption increased 2.3 percent while gross fixed capital formation jumped 5 percent. Exports rose 3.8 percent while imports expanded at a fastest 4.6 percent. 

On a quarterly basis, the economy expanded 0.4 percent in the first three months of 2015, revised up from previous estimate of 0.3 percent. Still, the figures showed the economy slowed from an upwardly revised 0.8 percent increase in the last quarter of 2014, growing at the slowest pace since the last three months of 2013.

ONS | Joana Taborda | joana.taborda@tradingeconomics.com
6/30/2015 11:38:41 AM


Recent Releases

UK GDP Growth Confirmed at 2-Year Low
The British economy expanded 2.4 percent year-on-year in the first three months of 2015, the lowest growth rate since the last quarter of 2013, second estimates released by the Office for National Statistics showed.
Published on 2015-05-28

UK GDP Growth at 2-Year Low
The British economy grew 2.4 percent year-on-year in the first three months of 2015, the lowest in five quarters, dragged down by a fall in mining and construction and a slowdown in services and manufacturing.
Published on 2015-04-28

UK Economy Expands 2.8% in 2014
The British GDP advanced 3 percent year-on-year in the last quarter of 2014, up from a 2.7 percent preliminary estimate as net trade contributed positively to the growth and the services sector continued to power the economy.
Published on 2015-03-31

UK GDP Growth Confirmed at 7-Year High
The British economy advanced 2.7 percent year-on-year in the last quarter of 2014, unchanged from the preliminary estimate. It is the highest growth rate since the last three months of 2007, driven by rise in consumption, investment and net trade.
Published on 2015-02-26


United Kingdom GDP Last Previous Highest Lowest Unit
GDP 2522.26 2461.77 2857.08 72.33 USD Billion [+]
GDP Growth Rate 0.40 0.80 5.00 -2.70 percent [+]
GDP Annual Growth Rate 2.90 3.40 9.80 -5.80 percent [+]
GDP Constant Prices 432995.00 431386.00 432995.00 102017.00 GBP Million [+]
Gross National Product 444819.00 440734.00 444819.00 4726.00 GBP Million [+]
GDP per capita 37955.11 37569.79 40230.96 13478.93 USD [+]
Gross Fixed Capital Formation 76099.00 74628.00 76099.00 13015.00 GBP Million [+]
GDP per capita PPP 35013.27 34657.81 37112.75 23542.10 USD [+]


GDP Annual Growth Rate Reference Previous Highest Lowest Unit
Australia 2.30 Mar/15 2.50 9.00 -3.40 percent [+]
Brazil -1.60 Mar/15 -0.20 10.10 -3.15 percent [+]
Canada 2.06 Mar/15 2.63 8.80 -3.70 percent [+]
China 7.00 Mar/15 7.30 14.20 3.80 percent [+]
Euro Area 1.00 Mar/15 0.90 5.00 -5.60 percent [+]
France 0.82 Mar/15 0.03 12.50 -3.95 percent [+]
Germany 1.10 Mar/15 1.60 5.20 -6.80 percent [+]
India 7.50 Mar/15 6.60 11.40 -5.20 percent [+]
Indonesia 4.71 Mar/15 5.01 7.16 1.56 percent [+]
Italy 0.10 Mar/15 -0.50 10.30 -6.90 percent [+]
Japan -0.90 Mar/15 -1.00 9.40 -9.40 percent [+]
Mexico 2.50 Mar/15 2.60 8.50 -8.10 percent [+]
Netherlands 2.50 Mar/15 1.60 5.80 -4.40 percent [+]
Russia -2.20 Mar/15 0.40 12.10 -11.20 percent [+]
South Korea 2.50 Mar/15 2.70 18.20 -7.30 percent [+]
Spain 3.10 Jun/15 2.70 5.80 -4.40 percent [+]
Switzerland 1.10 Mar/15 1.90 7.30 -3.70 percent [+]
Turkey 2.30 Mar/15 2.60 12.60 -14.70 percent [+]
United Kingdom 2.90 Mar/15 3.40 9.80 -5.80 percent [+]
United States 2.90 Mar/15 2.40 13.40 -4.10 percent [+]